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Feb 28, 2011
02/11
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in fact, we're facing a $3.6 billion deficit. like nearly every other state across the country, we're going to have to cut more than $1 billion from our schools and local governments in new york and california where there are democrats for governors, they're doing that the difference is with this budget repair bill, we give those schools and local governments, almost $1.5 billion worth of savings. so the savings they get from our budget repair bill would seed the amount that -- >> let me be clear, if the unions, who it seems to me have been clear in saying that they would agree to those extra contributions, if they did that, and you say you're concerned about the budget shortfall, why not accept that? >> but my point is, they can't. because they, the two people that suggested are statewide union leaders. there are 1,000-plus municipalities, more than 424 school districts, 72 counties, i know, i used to be a county executive for eight years. i know that collective bargaining has to be done in every jurisdiction. they can't guarant
in fact, we're facing a $3.6 billion deficit. like nearly every other state across the country, we're going to have to cut more than $1 billion from our schools and local governments in new york and california where there are democrats for governors, they're doing that the difference is with this budget repair bill, we give those schools and local governments, almost $1.5 billion worth of savings. so the savings they get from our budget repair bill would seed the amount that -- >> let me...
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Feb 15, 2011
02/11
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well if you're serious about the deficit, not just spending but serious about the deficit over all, part of what you have to look at is unjustifiable spending through the tax code. through tax breaks that do not make us more competitive, do not create jobs here in the united states of america. and two examples you cite, most economists would look at and they'd say, these are contributing to our long-term economic growth. and if they're not, why are we letting some folks pay lower taxes than other folks who are creating jobs here in the united states and are investing? why are we not investing in the energy sources of the future, justify the ones in the past, particularly energy sources of the past are highly profitable now and don't need a tax break. i think what may have changed is if we are going to get serious about deficit reduction and debt reduction, then we've got to look at all of the sources of deficit and debt. we can't be, you know, trying to pick and choose in getting 100% of our way. the same is true, by the way, for democrats. i mean, there's some -- there's some provisions
well if you're serious about the deficit, not just spending but serious about the deficit over all, part of what you have to look at is unjustifiable spending through the tax code. through tax breaks that do not make us more competitive, do not create jobs here in the united states of america. and two examples you cite, most economists would look at and they'd say, these are contributing to our long-term economic growth. and if they're not, why are we letting some folks pay lower taxes than...
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Jul 11, 2011
07/11
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talking about taxes, federal deficit, and medicare, social security. our chief white house correspondent and political director chuck todd standing by in the white house briefing room where we are expecting the president behind him in a moment. chuck, what blew up these talks? >> well, by saturday they blew up and john boehner pulled out of the big deal. the reason he had to pull out of the big deal, his own house republicans were not supportive of any idea putting taxes on the table. particularly in the amount of money john boehner was suggesting. last night's meeting here at the white house between all the congressional leaders and the president was tense and it was cordial. what happened after the meeting, decision was made that republicans would come back with what they believe is a plan that could pass a house senate -- smaller plan and as far as the white house is concerned, they want the president to use this press conference to at least outline what he believes his big plan ought to be which includes potentially cuts in social security as well
talking about taxes, federal deficit, and medicare, social security. our chief white house correspondent and political director chuck todd standing by in the white house briefing room where we are expecting the president behind him in a moment. chuck, what blew up these talks? >> well, by saturday they blew up and john boehner pulled out of the big deal. the reason he had to pull out of the big deal, his own house republicans were not supportive of any idea putting taxes on the table....
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Sep 27, 2009
09/09
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chris: it's the deficit. >> because the deficit is going to hit those other issues. >> inflation. chris: thanks for a great roundtable. trish regan, richard stengel, kathleen parker and andrew ross sorkin. that's the show. thanks nor watching. -- for watching. see you here next week.
chris: it's the deficit. >> because the deficit is going to hit those other issues. >> inflation. chris: thanks for a great roundtable. trish regan, richard stengel, kathleen parker and andrew ross sorkin. that's the show. thanks nor watching. -- for watching. see you here next week.
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the full cost of the american jobs act and a week from monday i will be releasing a more ambitious deficit plan, a plan that will not only cover the cost of this jobs bill, but stabilize our debt in long run. [ applause ] this approach is basically the one i have been advocating for months. in addition to the trillion dollars of spending cuts i have already signed into law, it's a balanced plan that would reduce the deficit by making additional spending cuts, by making modest adjustments to health care programs like medicare and medicaid and by reforming our tax code in a way that asks the wealthest american es wealthiest americans and biggest corporations to pay their fair share. what's more the spending cuts wouldn't happen so abruptly that they would be a drag on our economy or prevent us from helping middle class families and small businesses get back on their neat rigfeet right away. i know there's members -- millions of americans rely on medicare in their retirement. millions more will do so in the future. they pay for this benefit during their working years, they earn it. but when a
the full cost of the american jobs act and a week from monday i will be releasing a more ambitious deficit plan, a plan that will not only cover the cost of this jobs bill, but stabilize our debt in long run. [ applause ] this approach is basically the one i have been advocating for months. in addition to the trillion dollars of spending cuts i have already signed into law, it's a balanced plan that would reduce the deficit by making additional spending cuts, by making modest adjustments to...
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meaningful, credible process on debt and deficits. tax reform. tax simplification. immigration reform is an enormously important issue in terms of skill and talent, so there's a whole range. >> courtney, i want you to weigh in on the point that washington tends to overlook new businesses and start-ups. why is this happening? >> i think it's very typical of washington that they get stuck on an area of the economy and just continue to use the same talking points and i think they're the focus. we're grateful that some members of congress are entrepreneurs who are helped us on this book. senator warner, moran, corker, others, but there's, you know, i think the problem is when you talk about small business, which is very important to the economy, you talk about more mom and pop organizations and they may add a job here or there, but they don't have the high growth potential these new businesses do. what we did find that was very interesting that set us on this course was that all new job creation has come from new businesses in the first five years of their existence, so
meaningful, credible process on debt and deficits. tax reform. tax simplification. immigration reform is an enormously important issue in terms of skill and talent, so there's a whole range. >> courtney, i want you to weigh in on the point that washington tends to overlook new businesses and start-ups. why is this happening? >> i think it's very typical of washington that they get stuck on an area of the economy and just continue to use the same talking points and i think they're...
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Apr 11, 2011
04/11
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but in that process, we should be able to reduce the deficit. so, we should not be playing brinksmanship with a full faith and credit of the united states of america. so, of course we're going to do that, but what we need to do at the same time, in the months ahead, is we've got to decide -- and it's going to be a tough fight -- how are we going to reduce the deficit, get ao a more sustainable fiscal trajectory, but that doesn't cost the economy or grow jobs. >> laying out the deficit count, that's new this morning, and i want to break that down a bit. back in november of last year, the president set up a debt commission, and he said a lot of things to the american people, including this -- >> i set up this commission precisely because i'm prepared to make some tough decisions. i can't make them alone. i'm going to need congress to work with me. if we are concerned about debt and deficits, then we're going to have to take actions that are difficu difficult, and we're going to have to tell the truth to the american people. >> he said that, and ye
but in that process, we should be able to reduce the deficit. so, we should not be playing brinksmanship with a full faith and credit of the united states of america. so, of course we're going to do that, but what we need to do at the same time, in the months ahead, is we've got to decide -- and it's going to be a tough fight -- how are we going to reduce the deficit, get ao a more sustainable fiscal trajectory, but that doesn't cost the economy or grow jobs. >> laying out the deficit...
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he can't spend more without driving up deficits and debt. he can't cut taxes without doing the same. the fed can't cut rates lower. what is the president to do? and the grifters, why are people obsessed with getting on tv that they'll vial hate national security to grab the wisp of fame. >> i'm chris matthews, welcome to the show. katty kay is here and john heilemann and gloria borger is from cnn and michael duffy is from "time" magazine. first up, the week started with what commanders can do. he declared thousands of soldiers and billions will go to ramp up the war. >> as commander in chief, i determined it is our vital national interest to send an additional 30,000 troops to afghanistan. >> the unemployment rate went down suitly. it is a drag on the presidency. he can't order up new jobs. a president has only a few tools when it comes to fixing the american economy. eisenhower used an act to end a steel strike. >> i'm getting sick and tired of the apparent impasse in the settlement of this matter. and i think so are the american people. i
he can't spend more without driving up deficits and debt. he can't cut taxes without doing the same. the fed can't cut rates lower. what is the president to do? and the grifters, why are people obsessed with getting on tv that they'll vial hate national security to grab the wisp of fame. >> i'm chris matthews, welcome to the show. katty kay is here and john heilemann and gloria borger is from cnn and michael duffy is from "time" magazine. first up, the week started with what...
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the fact is, the deficit is still too high. and we're still investing too little in the things that we need for the economy to grow as fast as it should. that tea w that's why speak eer boehner ani tried to put the country on a path to paying down its debt and putting americans back to work, and education and job training. unfortunately, there just wasn't enough support or time for that kind of large agreement in a lame-duck session of congress. and that failure comes with a cost. as the the messy nature of the process over the past several week has made business more uncertain and consumers less confident. but, we are continuing to chip away at this problem. step by step. last year i signed into law $1.7 trillion in deficit reduction. tonight's agreement further reduces the deficit by raising $620 billion in revenue from the wealthiest households in america. and there will be more deficit reduction as congress decide to what to do about the automatic spending cuts that we have now delayed for two months. i want to make this po
the fact is, the deficit is still too high. and we're still investing too little in the things that we need for the economy to grow as fast as it should. that tea w that's why speak eer boehner ani tried to put the country on a path to paying down its debt and putting americans back to work, and education and job training. unfortunately, there just wasn't enough support or time for that kind of large agreement in a lame-duck session of congress. and that failure comes with a cost. as the the...
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the president says he has a plan for the deficit. and he says there are other more pressing priorities. steve handlesman has more on this story from capitol hill. >> democrats are calling this responsible and republicans are calling it reckless. the proposed spending plan would mean america's biggest ever deficit. >> the obama budget hit capitol hill with a splash of red ink. it's a deficit that's $10.6% of our whole economy. no choice said president obama and no quick fix. >> we won't be able to bring down this deficit overnight, given the economy is still taking hold. we will continue, for example, to do what it takes to create jobs. >> there's $100 billion for job creation, and cuts in 120 nonessential programs like space exploration. no cuts in iraq, no cuts in afghanistan. can't cut social security, medicaid or medicare. that's also why we're restoring pay as you go. >> as promised, the president would reverse the bush tax cut for the wealthy. >> i welcomeny idea from democrats and republicans. what i will not welcome, what i re
the president says he has a plan for the deficit. and he says there are other more pressing priorities. steve handlesman has more on this story from capitol hill. >> democrats are calling this responsible and republicans are calling it reckless. the proposed spending plan would mean america's biggest ever deficit. >> the obama budget hit capitol hill with a splash of red ink. it's a deficit that's $10.6% of our whole economy. no choice said president obama and no quick fix. >>...
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Nov 11, 2010
11/10
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. >>> in washington, the unwelcome task is being faced of slashing the budget deficit. among proposals, tax hikes, medicare cuts and raising the retirement age. kristin dahlgren has more from us live. >> good morning, veronica, cuts in taxes increases, a couple of controversial proposals by this so-called deficit commission, nowochairs unveiled the ideas yesterday to bring $4 trillion in deficit deductions by 2020. they called debt a cancer that needs to be fixed. the proposals were immediately attacked by both the left and the right in washington. speer pelosi calling them unacceptable. from korea, president obama urged critics to learn more about the proposals, he said, quote, we have to be straight with the american people and tough choices may be needed. but the proposals may not survive their own commissi. 14 of the 18 commissioners need to approve them prosecute they're sent to congress for a vote. some say that could be unlikely. the cochairs anowledged that all proposals may not fly, perhaps a bit of shock therapy to show the american public just how serious the
. >>> in washington, the unwelcome task is being faced of slashing the budget deficit. among proposals, tax hikes, medicare cuts and raising the retirement age. kristin dahlgren has more from us live. >> good morning, veronica, cuts in taxes increases, a couple of controversial proposals by this so-called deficit commission, nowochairs unveiled the ideas yesterday to bring $4 trillion in deficit deductions by 2020. they called debt a cancer that needs to be fixed. the proposals...
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Apr 19, 2010
04/10
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he's committed to bring the deficits down. he's outlined a very hard ambitious set of proposals that will cut our deficits by more than half a share of our economy over the next four years. he's convinced republicans to join on a bipartisan fiscal commission to make sure we can propose reforms, identify policies that take us back to where we were -- >> is it enough -- first of all, cutting taxesor 95% of americans. the bush tax cuts will expire. there are tax hikes included in health care reform. look -- >> health care reform is enormously important and will be enormously important and effective in helping bring down the long-term deficits. >> there's debate about even though that is certainly the assertion about how it was passed. >> again, in our country we turn to the independent analysts to make those judgments. this is why we have health care reform today, because the president wouldn't have it any other way, in their judgment health care reform will bring down long-term deficits dramatically overtime. >> why don't you ha
he's committed to bring the deficits down. he's outlined a very hard ambitious set of proposals that will cut our deficits by more than half a share of our economy over the next four years. he's convinced republicans to join on a bipartisan fiscal commission to make sure we can propose reforms, identify policies that take us back to where we were -- >> is it enough -- first of all, cutting taxesor 95% of americans. the bush tax cuts will expire. there are tax hikes included in health care...
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Dec 31, 2012
12/12
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part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge opportunity around energy. we are producing more energy and america can become an energy exporter. how do we do that in a way that also deals with some of the environmental challenges that we have at the same time. so that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1st, if congress doesn't act before the end of the year, is make sure that taxes are not going up on middle class families. and because it is going to be very hard for the economy to sustain its current growth trends if suddenly
part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge...
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is it good policy to raise taxes on the rich to fight the deficit? >> i don't know that they're going to use it to fight the deficit. last year the number of m ears and billionaire in america up 13%, average wages were flat. it's not an insignificant thing to do. we're talking about 35% to 39.6%. the -- we're not talking about something transformative like kennedy who cut the taxes from 90% to 70 phil esposito or reagan who cut them to 15%. chris: is it smart for them to use the old democrat religion, basically that this is about fairness, the rich have got to pay their share? >> well, basically you're only going c thetolinton era tax rates, which as erin siad is not dramatic. that mistakes -- makes it smart politics because there is a group cool he isy in washington right now -- co-al he ising in washington about getting the deficit cuts. do you want to go forward or back? extending the bush era tax cuts for the wealthiest reeks of the bush era and that's going to fit into the broader frame he is trying to put the elections into. chris: so it's not
is it good policy to raise taxes on the rich to fight the deficit? >> i don't know that they're going to use it to fight the deficit. last year the number of m ears and billionaire in america up 13%, average wages were flat. it's not an insignificant thing to do. we're talking about 35% to 39.6%. the -- we're not talking about something transformative like kennedy who cut the taxes from 90% to 70 phil esposito or reagan who cut them to 15%. chris: is it smart for them to use the old...
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Apr 14, 2011
04/11
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today we begin with digging out of the deficit. president obama laid out his blueprint yesterday for how to get out of the nation's debt. republicans say the plan doesn't work for them. steve handelsman reports. >> reporter: under fire from critics who claim he's failed to lead, president obama laid out his new plan to blood up our red ink. >> we have to live within our means. we have to reduce our deficit and we have to get back on a path that will allow us to pay down our debt. >> reporter: the obama goal is to wipe out $4 trillion of deficit in 12 years, debt declining as a percentage of the economy in 2015. with a fail-safe clause to force spending cuts if that target is not hit. and for every $ in spending cuts, $1 in tax hikes. focused on the top brackets, plus mortgage and charitable deductions. >> we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. we can't afford it. and i refuse to renew them again. >> reporter: republicans said no way. >> raising taxes is not what we need
today we begin with digging out of the deficit. president obama laid out his blueprint yesterday for how to get out of the nation's debt. republicans say the plan doesn't work for them. steve handelsman reports. >> reporter: under fire from critics who claim he's failed to lead, president obama laid out his new plan to blood up our red ink. >> we have to live within our means. we have to reduce our deficit and we have to get back on a path that will allow us to pay down our debt....
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Nov 21, 2011
11/11
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nation's deficit. they are split between republicans and democrats and they deadlocked over raising taxes and cutting entitlements. each side spent the day blaming the other. the bipartisan co-chairs released a statement saying they hope congress can build on the panel's work. failure to reach an agreement is going to trigger automatic spending cut that is go into effect january of 2013. lawmakers are trying to find a way around that rule. >>> gloomy. foggy out there. not going to get nicer before thanksgiving, but thanksgiving is looking good. >> doug kammerer is live with the latest. oh, it's murky out there. >> it really is. a little on the gloomy side this monday. the temperatures have been on the mild side. if you bring temperatures down 10 degrees, then you are talking a nasty day. today, the cloud cover and fog and temperatures average during the afternoon. down to 53 degrees, cooling off a little bit with the wind at 12 miles per hour. current temperatures 47 in martinsburg, 47 in hagerstown an
nation's deficit. they are split between republicans and democrats and they deadlocked over raising taxes and cutting entitlements. each side spent the day blaming the other. the bipartisan co-chairs released a statement saying they hope congress can build on the panel's work. failure to reach an agreement is going to trigger automatic spending cut that is go into effect january of 2013. lawmakers are trying to find a way around that rule. >>> gloomy. foggy out there. not going to get...
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Dec 12, 2010
12/10
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they have changed the debate on deficit ruction. you have got ron paul nown charge of monetary policy from the house. they have changed politics for now in washington. >> mikeuffy. >> i'm not telling you. i voted early by absentee, i haven't told my wife, can't tell you. but tune in wednesday, find out. it's a great parlor game. >> mitch mccon net the senate republican leader who pushed the president to the left. he made him into a left wing president because of republican policy. it was bntlliari. it allowed the republicans to have a brilliant political year. i'm not sure it was in the country's interests. he made the big difrence this year. thank you for the great rodtable. that's the show. thanks for watching. that's the show. thanks for watching. see you here next week. the future is here.
they have changed the debate on deficit ruction. you have got ron paul nown charge of monetary policy from the house. they have changed politics for now in washington. >> mikeuffy. >> i'm not telling you. i voted early by absentee, i haven't told my wife, can't tell you. but tune in wednesday, find out. it's a great parlor game. >> mitch mccon net the senate republican leader who pushed the president to the left. he made him into a left wing president because of republican...
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Dec 20, 2010
12/10
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dlars to the deficit? >> ablutely. lookt what thecommission suggested they suggested we do exactly what we did. they suggested we have payroll tax they suggested that we stimate the economy this yar and the next year. they suggeed that this hasno impac on long-term debt, becaus it's for two years. look, you know this. e only people that will aree with me when i say this are the economists listeni, left, rightnd center. in the middle of a recession where we're just climbing out of it, the economy, unmployment is stll at 9.7%. the idea of raising taxes and reducing spending is a prcription for disaster. noone is suggesting that. >> is the balance to that point -- do yothink do we think the balance is out of ack? larry smers, the preside's top economic adviser, he says the priority next year should b more spending. you're the shule-ready projects guy. there should be more investment infrasucture should there bemore of that before we cus on bringing down th deficit? >> wean do both. let me explain what i ean.
dlars to the deficit? >> ablutely. lookt what thecommission suggested they suggested we do exactly what we did. they suggested we have payroll tax they suggested that we stimate the economy this yar and the next year. they suggeed that this hasno impac on long-term debt, becaus it's for two years. look, you know this. e only people that will aree with me when i say this are the economists listeni, left, rightnd center. in the middle of a recession where we're just climbing out of it, the...
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Feb 21, 2011
02/11
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social security does not add one penny to the deficit. social security untouched will make every promised payment for more than a years. the deficit commission was given a charge. add 75 more years of solvency to social security. it came up with an approach. i think, frankly, another commission came up with a better approach. we need to move on social security but let's put it on a track that runs parallel but separate to deficit reduction. the social security program as it is currently put together does not have any impact on the deficit. >> senator graham, few people believe there's none at arithmetic problem with social security. >> when i was 21 and 22 my parents died. i had a 13-year-old sister. i was in college in law school. if it weren't for survivor benefits coming to my sister from my parents' contribution we would have a hard time make it. today i'm 55. i have no kids. we're paying more in benefits than we're collecting in taxes in about five years. in 2037 maybe even sooner you have to cut benefits by a third or across the tab
social security does not add one penny to the deficit. social security untouched will make every promised payment for more than a years. the deficit commission was given a charge. add 75 more years of solvency to social security. it came up with an approach. i think, frankly, another commission came up with a better approach. we need to move on social security but let's put it on a track that runs parallel but separate to deficit reduction. the social security program as it is currently put...
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Jul 17, 2011
07/11
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can he or she carry the burden of rejecting big deficit reduction? what about obama, if there's no debt deal, will he have to defend the liberal label next year? the knives are out. should john boehner expect a full-blown mutiny. is eric cantor the number two house republican leading the tea party against their own speaker? finally, family business. michele bachmann's number one in iowa but her family business about become her number one problem. it works to confer gays to straights. will that strike voters as sensible? will it sell on the stump, even among conservatives? hi, i'm chris matthews. welcome to the show. with us today, "new york" magazine john heilemann, cnn's gloria borger, nbc's kelly o'donnell and "time" magazine's joe klein. first up, narrative has been about trying for a big debt reduction deal this year but the political consequences for barack obama and g.o.p. nominee next year are the real story here. if there's no grand deal what are the 2012 consequences? for the president, there are some 2012 upsides perhaps even without a big
can he or she carry the burden of rejecting big deficit reduction? what about obama, if there's no debt deal, will he have to defend the liberal label next year? the knives are out. should john boehner expect a full-blown mutiny. is eric cantor the number two house republican leading the tea party against their own speaker? finally, family business. michele bachmann's number one in iowa but her family business about become her number one problem. it works to confer gays to straights. will that...
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Jul 15, 2011
07/11
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you said that reducing the deficit will require shared sacrifice. we know we have an idea of the taxes that you would like to see raised on corporations and on americans in the top two tax brackets. but we don't yet know what you are specifically willing to do when it comes to entitlement spending. in the interest of transparency, leadership and also showing the american people that you have been negotiating in good faith, can you tell us one structural reform that you're willing to make to one of these entitlement programs that would have a major impact on the deficit? would you be willing to raise the retirement age? >> we said that we're willing to look at all those approaches. i laid out some criteria in terms of what would be accepted. for example, i said very clearly that we should make sure that current beneficiaries, as much as possible, are not affected. but we should look at what can we do in the years so that over time some of these programs are more sustainable. i've said that means testing on medicare, meaning people like myself, you kn
you said that reducing the deficit will require shared sacrifice. we know we have an idea of the taxes that you would like to see raised on corporations and on americans in the top two tax brackets. but we don't yet know what you are specifically willing to do when it comes to entitlement spending. in the interest of transparency, leadership and also showing the american people that you have been negotiating in good faith, can you tell us one structural reform that you're willing to make to one...
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Sep 16, 2012
09/12
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tuesday will be the best chance to put a real dent in our deficit. outside for now, some bonus sunshine. right here at the tail end of
tuesday will be the best chance to put a real dent in our deficit. outside for now, some bonus sunshine. right here at the tail end of
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Jul 19, 2010
07/10
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if do you what they want to do and repeal, they are adding to the deficit. if i could just go make a couple points here because pete really said what we're saying. i wrote it down. they want to go back to the same agenda. the same agenda that got us into this mess. the bush tax cuts for the wealthy in 2001 and 2003, we know they didn't create any jobs because at the end of that eight-year period you had a loss of private sector jobs and that's a fact. why in the world we would want to go back to that agenda i think is a mystery to me and it's going to be a mystery to the american people going forward. what they do have some creative ideas including the guy who's their point person on the budget committee which is the road map plan. they would go back to a proposal to partially privatize social security, which is something pete has supported and we can have that debate but the american people need to know that and they also have a plan to turn medicare into a voucher program. you give the senior the voucher. by the way, the value of that voucher will decrease
if do you what they want to do and repeal, they are adding to the deficit. if i could just go make a couple points here because pete really said what we're saying. i wrote it down. they want to go back to the same agenda. the same agenda that got us into this mess. the bush tax cuts for the wealthy in 2001 and 2003, we know they didn't create any jobs because at the end of that eight-year period you had a loss of private sector jobs and that's a fact. why in the world we would want to go back...
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to do more so i put forward a specific $4 trillion deficit reduction plan. it's on a website. you can look at all the numbers, what cuts we make and what revenue we raise. >> reporter: that estimate comes from the left leaning center on budget and policy priorities. 3.8 trillion to be exact over ten years. the president is counting money saved by letting the bush tax cuts expire for people making more than $250,000 a year, but he's also counting $1 trillion in savings over ten years by drawing down the wars in iraq and afghanistan. the bipartisan nonprofit committee for responsible federal budget has called that a gimmick because those wars were deficit financed in the first place and the president is also counting on savings agreed to last year when the white house and congress agreed to raise the debt ceiling. >>> that was nbc's andrea mitchell reporting. >>> here's some other stories making news today in early days. a convicted robbery defendant surprised his public defender with a round house punch to the face after receiving a 15 year sentence. the brut
to do more so i put forward a specific $4 trillion deficit reduction plan. it's on a website. you can look at all the numbers, what cuts we make and what revenue we raise. >> reporter: that estimate comes from the left leaning center on budget and policy priorities. 3.8 trillion to be exact over ten years. the president is counting money saved by letting the bush tax cuts expire for people making more than $250,000 a year, but he's also counting $1 trillion in savings over ten years by...
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Sep 10, 2009
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put simply our health care problem is our deficit problem. nothing else even comes close. [ applause ] nothing else. now these are the facts. nobody disputes them. we know we must reform the system. the question is how? there are those on the left who believe that the only way to fix the system is through a single payer system like canada's -- where we would -- where we would severelyestrict the private insurance market and have the government provide coverage for everybody. on the right there are those who argue that we should end employer-based systems and leave individuals to buy health insurance on their own. i have said -- i have to say there are arguments to be made for both these approaches. but either one would represent a radical shift that would disrupt the health care most people currently have. since health care represents 1/6 of our economy, i believe it makes more sense to build on what works and fix what doesn't. rather than try to build an entirely new system from scratch. [ applause ] that is precisely what those of you in co
put simply our health care problem is our deficit problem. nothing else even comes close. [ applause ] nothing else. now these are the facts. nobody disputes them. we know we must reform the system. the question is how? there are those on the left who believe that the only way to fix the system is through a single payer system like canada's -- where we would -- where we would severelyestrict the private insurance market and have the government provide coverage for everybody. on the right there...
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Jul 26, 2010
07/10
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this will add to the deficit. why was it important then to make sure it was paid for then but not now? >> this is a responsible way to do it. my job is to help make sure we can borrow to finance the obligations congress gives us. it's a prudent, responsible way given the scale of the emergency, the scale of the damage still facing america, that we finance these additional support for the unemployed and the support for small business. we want to do it in an overall fiscally responsible way. as you knowhe president proposed a series of measures that would cut our deficit in half over the next several years. that's important for future growth. we'll make sure we get that balance right. >> it was important to be paid for then but not now. >> we can afford to do it this way. i'm completely confident we can. if you look again a what we pay to borrow now, we have very low interest rates in the country because people around the world and americans have a lot of confidence in our capacity as a country to make sure we manag
this will add to the deficit. why was it important then to make sure it was paid for then but not now? >> this is a responsible way to do it. my job is to help make sure we can borrow to finance the obligations congress gives us. it's a prudent, responsible way given the scale of the emergency, the scale of the damage still facing america, that we finance these additional support for the unemployed and the support for small business. we want to do it in an overall fiscally responsible...
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has washington's attempt to come up with a deficit-cutting deal exposed a deficit of leadership in washington? our roundtable weighs in. nbc's tom brokaw, former governor jennifer granholm, nbc's tom brokaw, former govei love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 people looking out for 70 million americans. that's health in numbers. unitedhealthcare. man: everybody knows you should save for retirement, but what happens when you're about to retire? woman: how do you go from saving to spending? fidelity helped us get to this point, and now we're talking about what comes next. man: we worked together to create a plan to help our money last. woman: so we can have the kind of retirement we want. now, you know how this works. just
has washington's attempt to come up with a deficit-cutting deal exposed a deficit of leadership in washington? our roundtable weighs in. nbc's tom brokaw, former governor jennifer granholm, nbc's tom brokaw, former govei love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our...
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Sep 13, 2009
09/09
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he will not sign a bill that adds to the deficit. he walked into the white house and inherited a $1 trillion-plus deficit from the republican administration because they had fought a war in iraq they didn't pay for, they gave tax breaks to the wealthy they didn't pay for and had a prescription drug program under medicare they didn't pay for. this president said that's over and members of congress should take that seriously. i disagree with "the washington post." the fact is under medicare now we are providing multi-billion dollar subsidies for manager called medicare advantage. the health insurance companies said to us, let us run medicare. we can show you how the government is not doing it efficiently. we can do it at a lower cost. guess what? it's not at a lower cost. we are subsidizing private health insurance companies to provide the medicare benefits we can provide at a lower cost. that has to change. that subsidy has to end. that is the kind of savings that can come back into the system to help small businesses to provide healt
he will not sign a bill that adds to the deficit. he walked into the white house and inherited a $1 trillion-plus deficit from the republican administration because they had fought a war in iraq they didn't pay for, they gave tax breaks to the wealthy they didn't pay for and had a prescription drug program under medicare they didn't pay for. this president said that's over and members of congress should take that seriously. i disagree with "the washington post." the fact is under...
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which was we should have a balanced approach to the deficit reduction. and what the american people saw is that congress didn't care. not just what i thought. they didn't care what the american people thought. they had their own agenda. so if they see that over and over again, that cynicism's not going to be reduced until congress actually proves their cynicism wrong. by doing something that would actually help the american people. this is a great opportunity to do it. this is a great opportunity to do it. and keep in mind, if the american jobs bill passes, we're still going to have challenges. we're still going to have to make sure that we've got the best education system in the world. because that is going to be critical for our long-term competitiveness and creating good, solid, middle-class job. we're still going to have to keep investing in basic research and science. we're still going to have to make sure that we do even more on infrastructure. what's contained in the american jobs bill doesn't cover all the roads and bridges and infrastructure tha
which was we should have a balanced approach to the deficit reduction. and what the american people saw is that congress didn't care. not just what i thought. they didn't care what the american people thought. they had their own agenda. so if they see that over and over again, that cynicism's not going to be reduced until congress actually proves their cynicism wrong. by doing something that would actually help the american people. this is a great opportunity to do it. this is a great...
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Jul 18, 2011
07/11
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they all piled on to the deficit. don't fix the deficit on the backs of the most vulnerable americans. >> david cote, what about corporations and taxes? we hear about the need to lower tax rates, but then you have companies that aren't paying taxes at all. >> well, if you wanted the most dynamic jobs-creating economy in the world, you would have a 0% corporate tax rate. however, nobody can stand that, because in our pursuit of fairness, we actually hurt the very people we're trying to be fair to. so, if we say, all right, what we need to do is, in the pursuit of fairness, attach some kind of tax rate, you should make it the most simple, easy-to-do thing possible, and that's why i think the simpson/bowles commission, i think we got it right, as we said take it away for everybody. all the exclusions, all the exemptions, take it away for everybody so you broaden the base and significantly lower the rates. >> yes. >> you can get an increase in taxes and everybody's going to be happy, and corporations will also get territo
they all piled on to the deficit. don't fix the deficit on the backs of the most vulnerable americans. >> david cote, what about corporations and taxes? we hear about the need to lower tax rates, but then you have companies that aren't paying taxes at all. >> well, if you wanted the most dynamic jobs-creating economy in the world, you would have a 0% corporate tax rate. however, nobody can stand that, because in our pursuit of fairness, we actually hurt the very people we're trying...
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Dec 13, 2010
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first addingo the deficit. the majority of that money is preventing taxes from rising in this recession. that's 500 plus billion of the total. there's 350 billion of new tax cuts that are on the obama program. i think it's a little bit different. i agree that's the downside. the president doesn't support -- if we were voting just on extending the high income tax cuts on their own, we would be 100% against it. they don't work. we've all been publiy stating for a long time that they don't. but by trading that we were able to get things tat really matter for the economy. >> how can you show youe serious about long-term efforts to bring down the debt? >> that's the second part of your question and what i would emphasize there is the fiscal commission highlight that it is medium and long run fiscal consolidation and responsibility, which is their goal. you cannot reduce the deficit if the economy is not growing period. they each have made clear that the short run growth of the economy -- we should not be conflating
first addingo the deficit. the majority of that money is preventing taxes from rising in this recession. that's 500 plus billion of the total. there's 350 billion of new tax cuts that are on the obama program. i think it's a little bit different. i agree that's the downside. the president doesn't support -- if we were voting just on extending the high income tax cuts on their own, we would be 100% against it. they don't work. we've all been publiy stating for a long time that they don't. but by...
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Jan 21, 2011
01/11
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be. >>> a group of house republicans has proposed a plan to shrink the deficit. they unveiled the spending reductn act. it wou extend the pay freeze on federal workers fm two to five years, and cut civil service, and prevenederal workers as serving f union ofcials on government time. it wouldliminate $2.5 tllion in spendin ove the next ten years. >>> finalnalysts say more peoplere planning to fly, it is reportedly bad newsor consumers. >> you will be paying more to hit the skies, whatou can expect when you hit the so-called frndly skies. >> i doesn't look lik long waits, or higher prices are going to keepmericans from traveling more this year. >>ravel is sxhg back. people are planning a little bit more this year on vacation. people are planning to take two, three vacation this year on avage. >> travel experts say, after a feyears of having to be if you are gal, leisure travellers are looking to let loose. the same goes for business travel. >> 80% of our respondents said they will take the same number or more trips in 2011. ry good news. >> the survey, by consulti
be. >>> a group of house republicans has proposed a plan to shrink the deficit. they unveiled the spending reductn act. it wou extend the pay freeze on federal workers fm two to five years, and cut civil service, and prevenederal workers as serving f union ofcials on government time. it wouldliminate $2.5 tllion in spendin ove the next ten years. >>> finalnalysts say more peoplere planning to fly, it is reportedly bad newsor consumers. >> you will be paying more to hit...
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any additional dollar to the deficit, # 100 billion, where are you on this? >> so, i'm willing to accept the realities of where we are, and that is that we have a policy base in other words, taxes, kind of like the dot fix, you know, we kept making up the fact that this was going to change. i'm willing to accept current policy, number one, i think that's rational. and i'm willing to accept a reasonable score on dynamic growth. a reasonable score on dynamic growth. joint tax does those, other groups that do it, but if it looks like to me, chuck, we're adding one penny to the deficit, i okay. i'm sorry. it is the greatest threat to our nation. the greatest throat our nation. it's like, chuck, we've entered a party atmosphere here, everybody was a fiscal hawk, kind of, not really, but kind of up until the election, now it's, now it's like there's a party going on up here. okay. heck with revenue, heck with the, you know, constraining spending, so yes, i will remain a deficit hawk until i leave here. and i'm looking so forward to this tax reform debate because th
any additional dollar to the deficit, # 100 billion, where are you on this? >> so, i'm willing to accept the realities of where we are, and that is that we have a policy base in other words, taxes, kind of like the dot fix, you know, we kept making up the fact that this was going to change. i'm willing to accept current policy, number one, i think that's rational. and i'm willing to accept a reasonable score on dynamic growth. a reasonable score on dynamic growth. joint tax does those,...
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conservatives are against big deficits. shouldn't they be out there at the ramparts, let's get something done? >> in washington, d.c., you have democrats who are broadly not enthusiastic about defic reduction and you have republicans and conservatives who are not serious about deficit reduction. and ireasing the bush tax cuts is a perfect example of that. back when the cuts were passed and the rare examples of the fiscal discipline, there was a sunset provision. they were supposed to end 10 years from now. we are here this is not about a tax increase. this was built into the legislation. republicans would say as they are saying now that if we raise taxes, it is bad for a down economy. i guarantee you, if the economy were booming today these same republicans would be saying we can't raise taxes now because it will choke off the boom. there is no way to deal with the deficit problem without increasing revenue chris: here is the fundamental question. andrea, do the conservatives would rather have the direction we're going in,
conservatives are against big deficits. shouldn't they be out there at the ramparts, let's get something done? >> in washington, d.c., you have democrats who are broadly not enthusiastic about defic reduction and you have republicans and conservatives who are not serious about deficit reduction. and ireasing the bush tax cuts is a perfect example of that. back when the cuts were passed and the rare examples of the fiscal discipline, there was a sunset provision. they were supposed to end...
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one, we have to deal with the debt and deficit. send wall street a message that the united states of america is deadly serious about dealing with the long-term structural debt. that means putting a plan on the table, 4 trillion plus, if necessary, that lays out how we go forward. we do it, david, in a way that doesn't turn our backs on the history we have created where we know how to do it without cutting off job creation in our economic future. in the 1990s, we balanced the budget. we did it without a constitutional amendment. we balanced the budget, created 22,000 new jobs. that changed when we went into credit card debt, two wars, two tax cuts. we couldn't afford them. boom! 6.some trillion in debt. obama was largely in response to george bush and hank paulson asking us to bail out the financial structure of america. we have to get real about what the problem is. the second piece of this, senator box eer has a great dea. if we do it, we will save 600 more jobs than what the house is setting out to do. three, we need to pass the
one, we have to deal with the debt and deficit. send wall street a message that the united states of america is deadly serious about dealing with the long-term structural debt. that means putting a plan on the table, 4 trillion plus, if necessary, that lays out how we go forward. we do it, david, in a way that doesn't turn our backs on the history we have created where we know how to do it without cutting off job creation in our economic future. in the 1990s, we balanced the budget. we did it...
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Dec 13, 2009
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huge jobs deficit and one that was growing, and a huge budget deficit and one that was growing. what he said is we absolutely have to attack both of those. on the jobs side, everybody knows you're never going to get your budget deficit under control if you don't get the economy growing again. that's why what he's talking about is not just government trying to get people working, it's the government helping to jump start the private sector. we know that's what has got to happen. on the fiscal side we know that the actions that we take are likely to be more effective if people have confidence that we will get that long run budget deficit under control. and that is what the president is committed to doing, i got to tell you he has shown that commitment in the debate on the floor of the senate on health care. he has been the most passionate advocate for cost containment. that is a crucial step we can take right now to get the budget deficit under control in the long run. >> is it still his view essentially the government must spend its way out of the recession than attack the defici
huge jobs deficit and one that was growing, and a huge budget deficit and one that was growing. what he said is we absolutely have to attack both of those. on the jobs side, everybody knows you're never going to get your budget deficit under control if you don't get the economy growing again. that's why what he's talking about is not just government trying to get people working, it's the government helping to jump start the private sector. we know that's what has got to happen. on the fiscal...
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Nov 11, 2010
11/10
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a battle to cut our deficit. a bolton bold move on tax and spending. >> i set this up because i'm prepared to make some tough decisions. >> reporter: this korea, president obama said he alone can't erase all our red ink. >> the only way to make those tough choices historically has been if both parties are willing to move forward together. >> reporter: the deficit commission saying the o ways won't work. >> wean't tax our way out of this problem. and we can't cut our wa out of this problem. >> reporter: what is proposed is a combination. the plan could cut defense spending. hike tax by eliminating the mortgage deduction. cut social security cost of living hike, raise the retirement age gradually to 68, and hike what we pay for medicare. >> a lot of this is politically red hot. they are touching about every third rail in american politics. >> reporter: our or citize toward sacrifice. >>f it ends u being more money out of my paycheck, so be it. >> its scary to think about it. >> reporter: the political guessing is l
a battle to cut our deficit. a bolton bold move on tax and spending. >> i set this up because i'm prepared to make some tough decisions. >> reporter: this korea, president obama said he alone can't erase all our red ink. >> the only way to make those tough choices historically has been if both parties are willing to move forward together. >> reporter: the deficit commission saying the o ways won't work. >> wean't tax our way out of this problem. and we can't cut...
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Apr 17, 2011
04/11
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>> i'm really serious about a plan that claims to reduce the deficit by spending $1 trillion on tax cuts for millionaires and trillion yarz. >> what we heard today was not leadership from our commander in chief. what we heard today was a political broadside from our campaigner in chief. >> the budget war, rising gas prices, the looming debt ceiling deadline and the jobs outlook, all topics for our lead newsmaker guest this morning, the president's point man on the economy, treasury secretary tim geithner. then, what's realistic? our "political roundtable" weighs in on who has the more serious plan to tackle the deficit and whether there is the political will to solve the toughest problems, like medicare and our tax system, without another threat to shut down the government. plus, mitt romney inches closer to jumping into the race. >> it's time we put america back on a course of greatness, with a growing economy, good jobs and fiscal discipline in washington. >> if he's seen by many as the gop front-runner, why is donald trump doing so well in the polls? with us, former chairman of the fe
>> i'm really serious about a plan that claims to reduce the deficit by spending $1 trillion on tax cuts for millionaires and trillion yarz. >> what we heard today was not leadership from our commander in chief. what we heard today was a political broadside from our campaigner in chief. >> the budget war, rising gas prices, the looming debt ceiling deadline and the jobs outlook, all topics for our lead newsmaker guest this morning, the president's point man on the economy,...
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say you want to reduce the deficit. this reduces it by, you know, $1 trillion over the next 20 years. i'm the only one who has put that plan out there. he goes after individual republicans. mitt romney has a john kerry problem. so let me get this straight, you were before it, before you were against it, that sort of thing. and, you know, he -- and then he says, if you've got an idea, i'm willing to it talk about it. >> all right. we're going to leave it there. thank you both very much. be sure to visit our website this afternoon to watch our take two web extra with david brooks and read an excerpt of his new book, "the social animal." ♪ [ male announcer ] imagination. its supply is limitless. its power is beyond measure. imagination carries us into the future... and helps doctors see what they couldn't before. it provides funding so that solutions beyond our grasp... become within reach. ecomagination. healthymagination. capital. imagination at work. makes anything... everything... possible. ♪ ♪ - if you get yours
say you want to reduce the deficit. this reduces it by, you know, $1 trillion over the next 20 years. i'm the only one who has put that plan out there. he goes after individual republicans. mitt romney has a john kerry problem. so let me get this straight, you were before it, before you were against it, that sort of thing. and, you know, he -- and then he says, if you've got an idea, i'm willing to it talk about it. >> all right. we're going to leave it there. thank you both very much. be...
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Nov 21, 2011
11/11
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so, inhe name of lowering the deficit, you want toextend those tax cuts, which increases the deficit, and would not be offset by the tax increase that you were talking about. >> how did the super committee get created in the first place here? when the president asked us to increase the debt ceiling, w said we're not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created to come up with the other $1.2 or$1.5 trillion. supposedly on the maatory side. this is where two-thirds of our spending occurs. on everything from medicare and medicaid to food stamps and ag subsidies and the like. and we focused on that. and our democratic friends were never lling to dohe entitlement reforms that would have reduced the costs -- >> senator you haven't answered my question. >> i'm getting to the point. this was not about extending the bush tax cuts. it was about trying to do entitlement reform on the mandatory side of the budget. when our democratic friends mad it very clear they weren't
so, inhe name of lowering the deficit, you want toextend those tax cuts, which increases the deficit, and would not be offset by the tax increase that you were talking about. >> how did the super committee get created in the first place here? when the president asked us to increase the debt ceiling, w said we're not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created to...
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Jul 25, 2011
07/11
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so, we could see serious deficit reform. senator coburn comes on next, the gang of six worked at it. they've got an outline. there's plenty parts -- >> help me understand the timing. you're saying you want a vote that says the debt ceiling is raised until 2013. there could be this super commission that takes on the hard stuff. >> right, right. >> and when does it have to vote up or down, by when? >> if the super committee doesn't produce something that the congress approves, and my understanding is this is speaker boehner's plan -- if they don't produce something in early -- at the end of -- pardon me, at the end of '11 or '12, then there's action that must take place. senator mcconnell has a plan where the president would come to the congress, give his list of cuts, they could vote approval or disapproval on that proposal in order to get the extension of the debt ceiling, but it would not be this sword being held over the american people's heads once again. >> but why should the american people have any more confidence in t
so, we could see serious deficit reform. senator coburn comes on next, the gang of six worked at it. they've got an outline. there's plenty parts -- >> help me understand the timing. you're saying you want a vote that says the debt ceiling is raised until 2013. there could be this super commission that takes on the hard stuff. >> right, right. >> and when does it have to vote up or down, by when? >> if the super committee doesn't produce something that the congress...
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Feb 20, 2012
02/12
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the second part is we need to balance the deficit and deal with it in a balanced way. thiss not a question about whether or not we should reduce the long-term deficit. it's how. the republicans and paul ryan's budget does this, it's a one-sided lopsided approach. they want to take it all out on middle-income amerans. the result is that you are going to have folks on medicare, seniors with a 23,000 median income taking in the burden for increased medical costs because they don't want to ask folks at the very high end to pitch in by closing corporate tax loopholes and by going back to the same top tax rate in place in the clinton years when the economy boomed and we balanced the budget by the end. they all signed a pledge saying they won't close one tax loophole for the purpose of deficit reduction. the first action taken by the house of representatives when the republicans took charge was to change the house rules to say that you don't have to pay for tax cuts for the folks at the very top. you can put that on your credit card. what we need to do is take a balanced appr
the second part is we need to balance the deficit and deal with it in a balanced way. thiss not a question about whether or not we should reduce the long-term deficit. it's how. the republicans and paul ryan's budget does this, it's a one-sided lopsided approach. they want to take it all out on middle-income amerans. the result is that you are going to have folks on medicare, seniors with a 23,000 median income taking in the burden for increased medical costs because they don't want to ask...
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and we can reduce the deficit... with more than thirty billion dollars paid by america's wireless companies. it's simple -- more spectrum means more freedom. for everyone. . >> and it's interesting because it seems to answer what question about where we are? >> we've thought about what does it take to be president. we want to find out what these are like. what they're thinking. we've discovered a good way to do that is how their campaigns started. we want to sit down face to face and say tell me your genesis. how did this start. with mitt romney, we found out it never stopped. >> and, yet, he's in this cycle so far, a much better candidate and facing the same questions he faced. >> it really is. they told us that in 2008, he never found his way. he started out way too cocky and wound up way too gun shy. this time, he's trying to answer questions about this campaign. what is it that romney has told? >> has he been consistent? >> apparently, his debate with other guys were there. it's one of the biggest debates is to c
and we can reduce the deficit... with more than thirty billion dollars paid by america's wireless companies. it's simple -- more spectrum means more freedom. for everyone. . >> and it's interesting because it seems to answer what question about where we are? >> we've thought about what does it take to be president. we want to find out what these are like. what they're thinking. we've discovered a good way to do that is how their campaigns started. we want to sit down face to face...